At a glance: Most FHA borrowers pay an annual MIP of 0.85% for the full term of the loan, or up to 30 years.
FHA mortgage insurance premiums (MIPs) can be somewhat confusing to home buyers. There are several reasons for this. First of all, there are two different kinds of premiums, and they are both determined in different ways.
- The upfront MIP is generally the same for most borrowers, across the board.
- The annual MIP varies based on several factors, including the amount being borrowed and the loan-to-value (LTV) ratio.
The upfront premium is pretty straightforward. Most borrowers who use the FHA loan program to buy a house will end up paying 1.75% of the base loan amount for their upfront MIP.
The annual premiums are more complicated. So we’ve created some 2019 annual FHA MIP charts to help reduce confusion.
In depth: Insurance requirements for this program
FHA Annual MIP Rate Chart for 2019
The charts below shows the annual FHA MIP rates for 2019. These rates have been the same for the past few years. They will likely remain in effect throughout 2019, since FHA officials have said they do not plan to change them anytime soon.
FHA Loans Greater Than 15 Years
| Base Loan Amt. | LTV | Annual MIP |
|---|---|---|
| ≤$625,500 | ≤95.00% | 80 bps (0.80%) |
| ≤$625,500 | >95.00% | 85 bps (0.85%) |
| >$625,500 | ≤95.00% | 100 bps (1.00%) |
| >$625,500 | >95.00% | 105 bps (1.05%) |
FHA Loans Less Than or Equal to 15 Years
| Base Loan Amt. | LTV | Annual MIP |
|---|---|---|
| ≤$625,500 | ≤90.00% | 45 bps (0.45%) |
| ≤$625,500 | >90.00% | 70 bps (0.70%) |
| >$625,500 | ≤78.00% | 45 bps (0.45%) |
| >$625,500 | 78.01% – 90.00% | 70 bps (0.70%) |
| >$625,500 | >90.00% | 95 bps (0.95%) |
Note: Most borrowers who use the FHA loan program choose the 30-year repayment term and put down 3.5%. That means most borrowers end up paying the 0.85% annual premium. (See the second line of the first table above.)
Our FHA MIP charts for 2019 were adapted from HUD Mortgage Letters and other official documents. These charts were reviewed and updated in January 2019, and were found to be accurate at that time. It’s possible that these annual MIP rates could change in the future.
Assessment Period & Cancellation Policy
HUD has issued another (and somewhat more complicated) chart that shows the duration of the assessment period for the annual MIP. In other words, this chart shows how long home buyers / borrowers have to pay their annual MIP before cancelling it.
Note: Most FHA borrowers use 30-year loans with a down payment of 3.5%. This means they have a loan-to-value (LTV) ratio above 95%. It also means that most borrowers have to pay the annual MIP for the life of the loan, as shown in the chart above.
Learn more about MIP cancellation policy
Disclaimer: We work hard to ensure the accuracy of the content we publish on this website. With that being said, the Department of Housing and Urban Development frequently makes changes to the FHA loan program. So there’s a chance that some of the information on this website will become inaccurate over time. For the most current and accurate information regarding FHA MIP rates and charts, we recommend that you visit HUD.gov or speak to a HUD-approved mortgage lender.